WOODCLIFF LAKE, N.J. — NYCE Corp. said Tuesday that it has set up a business division, the emerging network payments group, to work on extending the company’s real-time transaction processing capabilities beyond its current automated teller machine and online debit point of sale services.

NYCE said the division is the latest in a growing number of teams at the company that are working on new products and services.

The advanced products group, which NYCE set up in 1999, played a key role in developing SafeDebit, a product that lets consumers make real-time, PIN-secured purchases on the Internet with funds withdrawn directly from deposit accounts. A few banks have licensed SafeDebit, but none has introduced it commercially.

The company said the emerging network payments group will develop products and services that “represent the evolution of real-time payments” in the same way that SafeDebit expands on online debit point of sale transactions.

The group’s current and future initiatives will use NYCE’s network infrastructure to develop “PIN-less” transactions, funds transfers initiated using different means of authentication and verification, yet processed in the same real-time manner, the company said.

Neil F. Axe recently joined NYCE as director of the emerging network payments department. Mr. Axe had managed traditional credit and e-commerce data and application products at Dun & Bradstreet. Before that he had worked for nearly 10 years at Discover Financial Services in marketing and business development.

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